Springfield - MA housing market
The Springfield metro has a typical home value of $376,569, up 3.4% from a year ago. Homes are moving fast at 12 days on market, a strong seller's market. 22% of listings have had a price cut. Data from Zillow Research, updated monthly.
Springfield housing market, October 2026
The typical Springfield home is worth $376,570 as of August 2026, up 0.3% from the prior month, up 0.7% over three months, and up 3.4% from a year ago. Over the past two years values have ranged from $358,291 to $376,570.
Homes are going pending in about 12 days, slower than the 9 days seen three months earlier. There are roughly 1,557 homes for sale, 17% more than a year ago. 22.5% of listings have taken a price cut (up from 14.8% three months ago).
Typical rent is $1,964 a month, up 3.8% year over year, which puts the price-to-rent ratio at 16.0.
At this week's 7.40% mortgage rate with 20% down ($75,314), the typical Springfield home costs about $2,557 a month including tax and insurance, which needs a household income of roughly $109,600 to stay under a 28% payment-to-income ratio.
Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →
How to read this data
The typical home value ($376,569) is the Zillow Home Value Index for the Springfield - MA metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 3.4% over the past year. In Springfield - MA, that means a home worth $364,187 last year is now worth roughly $376,569.
The median sale price, what homes actually close for, is $350,391. Homes are selling at 102.8% of list price, meaning buyers are typically paying at or above asking.
Homes listed in Springfield - MA sit on the market for roughly 12 days before going pending. Shorter = seller's market; longer = buyer's market.
About 22.5% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 694 new listings hit the market each month in Springfield - MA. There are currently 1,557 homes for sale, up 16.6% from a year ago.
The typical monthly rent in Springfield - MA is $1,964, up 3.8% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 16.0x, toss-up (#122 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $2,086 a month in principal and interest, $122 more than renting before taxes, insurance and upkeep. The two break even at a 6.80% rate.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →
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Other metros in MA
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Boston - MA | $733,574 | +2.1% | 13.0d |
| Worcester - MA | $479,429 | +2.1% | 12.0d |